As an active rain member I have researched historical home price declines for statistical patterns. The last time we had www.appraisal-values.com excuse me home property values drop was in 1987, when the stock market crashed. At that time a median property value range of 10% year over year for three consecutive years. This is based on facts, by local Bergen County Real Estate Agents according to www.BergenCountyMLS.com. As far as I can see we have seen on average 10% this leaves about a 15% to 20% continued decline if history repeats itself. But wait a minute, we have had a fox in the hen house too long with Wall Street continuing their churn on the mortgage lending barel with toxic 100 to 110% LTV loand products this go around. So my estimate is probably 25% before we hit the floor and propery values stabilize.
Show All Comments
Sort:
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker
Welcome back to ActiveRain!
I encourage you to take another look at the website. Surf some blogs, leave some comments. Better yet, post a Blog.
Best to you!
Jul 26, 2015 01:05 PM
Comments(1)